FSB’s RCG for Europe discusses digital currency at meeting. The Financial Stability Board summarized the discussions of its Regional Consultative Group for Europe at a recent meeting. The RCG meeting focused on, among other things, a draft report from its Working Group on Private Pension Schemes Resilience; current regional macroeconomic and financial market developments; key financial stability issues; and the potential for the issuance of digital currencies by central banks. (6/2/2017) FSB press release.
IOSCO outlines principles for securities regulation. The International Organization of Securities Commissions published its Objectives and Principles of Securities Regulation, which presents 38 principles for securities regulation based upon the objectives of protecting investors; ensuring fair, efficient, and transparent markets; and reducing systemic risk. IOSCO also published its methodology for assessing the implementation of the objectives and principles by regulators and other market participants. (5/31/2017)
OTC Derivatives Compliance Calendar. The International Swaps and Derivatives Association updated its OTC Derivatives Compliance Calendar. (5/31/2017). OTC Derivatives Compliance Calendar.
Meeting of the FSB’s RCG for the Americas. The FSB reviewed the discussions of its RCG for the Americas at its meeting in May, which focused on, among other topics, outcomes from the FSB’s Emerging Market and Developing Economies Forum, the decline in correspondent banking services and activities, and the work of the FSB’s FinTech Issues Group. (5/30/2017) FSB press release.
IOSCO chair registers support for FX Global Code. IOSCO Board Chair Ashley Alder issued a statement in response to the launch of the FX Global Code, in which he welcomed its publication and noted that IOSCO’s work in other areas of wholesale market conduct “will also help underpin proper functioning of global wholesale markets.” (5/25/2017)
IOSCO, CPMI complete Level 2 assessment of Hong Kong’s implementation of the PFMI. IOSCO and the Committee on Payments and Market Infrastructures released a report that presents the findings of their Level 2 assessment of Hong Kong’s legal, regulatory and oversight framework for systemically important payment systems, central securities depositories, securities settlement systems, central counterparties, and trade repositories for compliance with the Principles for financial market infrastructures. The report concluded that Hong Kong’s framework is complete and consistent with the PFMI. (5/24/2017) IOSCO-CPMI report.